If your disposable income under the means test is between $7,475 and $12,475 then you must do further calculations to determine if you have the option of filing a Chapter 7 case. Each outlet is a litmus test of the economy and its prosperity. of dollar mass is about 55 trillion, this is the figure we will apply in the calculations.
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California Bankruptcy Means Test If you would like to file a Chapter 7 bankruptcy you must pass the California means test. The test only applies to higher income filers which means that if your income is below the California median for your household size you are exempt from the test and may file a Chapter 7.
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The same means test that is supposed to determine whether you can file Chapter 7 bankruptcy is used to decide what you must pay to creditors in Chapter 13. The test is not identical, but the principle is the same: use a standardized formula to calculate how much bankruptcy relief is available to this debtor.
consolidatecc consolidatecc Tuesday, November 15, 2005 . getting a loan while in debt consolidation enclosures: (list what you are enclosing) CRAs must reinvestigate the item(s) in question-usually within 30 days-unless they consider your dispute frivolous.
Means Test In Chapter 13 The same means test that is supposed to determine whether you can file Chapter 7 bankruptcy is used to decide what you must pay to creditors in Chapter 13. The test is not identical, but the principle is the same: use a standardized formula to calculate how much bankruptcy relief is available to this debtor.
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Finance: Debt Relief Text Category Simple Financial Advice for Debt Free Living. The content provided on this site is for informational purposes only. You should consult a financial adviser or lawyer before making any financial decision.
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